NYSE Tested Avalanche Tech for a Year, Ava Labs Says

The New York Stock Exchange evaluated Ava Labs' blockchain technology for 12 months while reviewing tokenization strategies, the company stated. The Block reported the comments, which Ava Labs president Cooper made during a Thursday interview at Avalanche Summit in New York.

Cooper said the two organizations built a "close working relationship" during that diligence period. He declined to say if the exchange formally chose Avalanche for its infrastructure, noting, "I leave it to the NYSE guys to talk publicly about where they are in the whole process."

According to the interview, the exchange questioned the company on project economics and its grasp of the exchange's broader business requirements. Michael Blaugrund, Head of Strategic Initiatives at ICE, joined Cooper on stage to discuss the operator's onchain strategy. Blaugrund described ICE as "[very engaged]" with the Avalanche team as it weighs blockchain platforms, adding that "Avalanche checks a lot of those boxes for us."

Cooper predicted that several venues will start providing 24-hour weekday trading within twelve months. He pointed to a regulatory innovation exemption published by the SEC on Thursday, which permits specific onchain trading of tokenized equities. While he was unsure whether large exchanges would lead this change, he noted that smaller venues are actively working to host this liquidity.